San Diego Startup of the Week: Doctible

Written by
Aye Myat

Mondays can be a drag, but here at Seamgen, we try to start the week off strongly by spreading some San Diego love. From concept to launch, there are numerous hurdles to get through, and we admire the hard work these passionate San Diego companies put forth. We’re always looking for local startups trying to disrupt an industry, which leads us to our San Diego Startup of the Week, Doctible.

While Silicon Valley and Silicon Beach are well-known for their tech firms, tech culture and more, San Diego is on its way to becoming a bustling tech hub of its own. Here at Seamgen, we pride ourselves on building innovative digital products, but we are not the only ones contributing to San Diego’s tech scene.

Why did we Pick Doctible?

Today, about 3/4 of patients start their doctor search online. Doctible is revolutionizing the healthcare industry by matching patients to doctors. The healthcare market has nearly unlimited potential, and Doctible is poised to take a consistently larger slice of this pie, year after year.

Funding

In November 2016, Doctible closed its $2 million seed funding round; this figure was roughly triple its previous funding amount from 2015.

Humble Beginnings and Vision

All companies start off somewhere, and Doctible’s start was a rather painful one. Literally.

In 2013, co-founder Ajit Viswanathan injured his knee and needed a doctor. He experienced the lack of information online about provider services, cost, and quality; from there, Doctible was born.

How does it Work?

The passing of the Affordable Care Act in 2010 created a healthcare environment ripe for a service like Doctible’s. Since 2013, Doctible has been helping practices create a digital footprint.

In our connected age, online searches are the go-to method for looking up various things, such as recipes, travel info, and healthcare providers. Enter Doctible, the platform for connecting practices and their patients, pushing healthcare communication into the online age.

The Process

Search: Find a Doctor or specialist nearby who you can trust to meet your needs

What sets Doctible Apart?

Built on transparency, reducing healthcare costs, and improved consumer choice, the company is:

A growth platform for today’s healthcare practice.

So why transparency, savings, and choice?

The emphasis on transparency allows for potential clients to know how much they would be paying upfront. This transparency has resulted in Doctible users saving about 40% on average in provider’s fees. Consumer choice is important in personalizing the practice-client relationship; the benefit of Doctible is having so many different practitioner options at your fingertips.

All kinds of sectors of the healthcare industry are within the platform, ranging from Dentists to Acupuncture.

Quoted from prnewswire.com, Jean Balgrosky, Managing Partner of Bootstrap Incubation, had this to say about the company:

With the recent changes in healthcare trends that have shifted costs to consumers, there is an increasing need for transparency and ability for consumers to know their costs upfront. Doctible is a great example of what we look for, a fantastic team taking a unique approach to the growing problem of healthcare costs and accessibility.

Where are they Now?

From a knee injury in 2013, to having total equity funding close to $3 million, Doctible has come a long way. The lead investor in the most recent round was Bootstrap Incubation, a venture capital firm with an eye on healthcare technology.

Around the time of their $2 million dollar round in November 2016, the company also released version 2.0 of their product suite. The service is currently in 34 states, with plans to expand to even more. 2017 is sure to be Doctible’s year!

Below is their customer base in February 2016 vs. September 2016. Look at that rapid expansion!

Thanks for reading!

Thanks for tuning into our San Diego Startup of the Week! Be sure to come back next Monday to see which startup we’ll be reviewing next.

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Sign up today

About once a month, we’ll keep you on top of everything you need to know in technology & design, and all the latest here at Seamgen.

Email

Nice!

You’ve made a wise decision. Emails are sent out about once a month, so keep your eyes peeled. Look for a monthly roll up from us on what we’re up to and the latest in technology, design & industry trends.